Tuesday, June 9, 2009

Franklin Templeton MF Appoints Rao As A New Director - June 09, 2009

Franklin Templeton Mutual Fund has appointed M.B.N Rao as the director of the AMC, with effect from 19 May 2009. M.B.N Rao, aged 60 years, is the former chairman & managing director of Canara Bank. He has vast experience in the financial sector and held several other senior positions in the banking industry such as the chairman & managing director of Indian Bank and Vice Chairman of Commercial Bank of India, Moscow.

He has also been Chairman of Indian Bank's Association. Further Rao has been the Chairman of Canara Bank Subsidiaries I Insurance, Mutual Fund, Venture Capital, Factoring, Computer Services, and Online Trading & Broking and Indian Bank Subsidiaries in Merchant Banking, Housing and Mutual Fund.

Currently, he is a director on the Board of Governors of National Institute of Securities and Markets and a Member of the Corporate Governance and Audit committee, HSBC India.

Rao earned a Bachelor of Science degree in Agriculture. He is also an Associate of the Chartered Institute of Bankers, London and Fellow of the Indian Institute of Banking & Finance.

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